CHL Mortgages cuts buy-to-let rates at 75% LTV
CHL Mortgages, the intermediary-only specialist buy-to-let lender, has cut rates across its 75% LTV product range by up to 15bps.
Five-year fixed rates now start from 3.10% at 75% LTV on individual and limited company with HMO & MUFB two-year starting from 3.39% and five-year from 3.48%.
The changes in full are as follows:
- Individual and limited company buy-to-let range (up to 75% LTV)
- Two-year fixed now 3.15% (1.5% arrangement fee unchanged)
- Five-year fixed now 3.10% (2% arrangement fee unchanged)
- Five-year fixed now 3.30% (1% arrangement fee unchanged)
- HMO and MUFB buy-to-let range (up to 75% LTV)
- Two-year fixed now 3.39% (2% arrangement fee unchanged)
- Five-year fixed now 3.48% (2% arrangement fee unchanged)
- Five-year fixed now 3.68% (1% arrangement fee unchanged)
In addition, at 65% LTV for individuals and limited companies, the 3.19% five-year fixed now has a reduced arrangement fee of 1%. Early repayment charges are 3/2 for two-year fixed and 5/4/3/2/1 for five-year fixed.
ICR starts from 125% of the mortgage payment and is calculated at payrate for all five-year products on both purchase and re-mortgage, including HMO/MUFB.
Ross Turrell, commercial director, CHL Mortgages commented: “We’ve seen positive movement in the markets with long term swap rates improving and so have moved quickly to pass these savings onto landlords through our intermediary partners.
“The buy-to-let marketplace is hugely competitive and it’s important to outline our product and service values on an ongoing basis. Passing on these savings – alongside no loading on our valuation fees – demonstrates our commitment to promoting transparency throughout our proposition. Attributes we will continue to build on in H2 2021.”
